Payment Services Act 2019 · 2020 Revised Edition · Part 3 · Payment Systems
53. Cessation and revocation of access regime
Feedback & supportAn access regime in respect of a relevant payment system ceases to be in force if —
access regime
“access regime”, in relation to a payment system, means an access regime imposed by the Authority under section 51 and that is in force;
the order imposing or varying the access regime under section 51(1) or 52(1) (as the case may be) provides for an expiry date, and that date is reached;
the Authority revokes the access regime under subsection (2); or
the payment system concerned ceases to exist or operate, or ceases to be a relevant payment system.
The Authority may, by order in the Gazette, revoke an access regime if the Authority considers it appropriate to do so.
In considering whether to revoke under subsection (2) an access regime in respect of a relevant payment system, the Authority must have regard to the following matters:
relevant payment system
“relevant payment system” means any of the following payment systems:(a)a payment system operated by a major payment institution;(b)a payment system operated by an exempt payment service provider;(c)a payment system operated by a person exempt under section 100 from having in force a licence;(d)a designated payment system;
whether the revocation of that access regime would be in the interests of the public;
the interests of the current participants, operator and settlement institution of that payment system;
the interests of persons who, in the future, may require or desire access to that payment system;
such other matters as the Authority may consider to be relevant.